The guarantor of money repayment to a depositor is the Russian Government.

A depositor is not required to enter into a separate insurance agreement; it is secured by operation of law. Funds in roubles and foreign currencies deposited by individuals with a bank pursuant to a bank deposit agreement or a bank account agreement are insured, including capitalized interest (accrued interest added to the deposit), as well as the funds placed into:

demand and term deposits ;

bank accounts for receiving salaries, pensions, scholarships and social benefits, including with the use of bank cards;

nominal accounts of guardians or trustees, where the beneficiaries are their wards;

escrow accounts opened for making settlements under real estate transactions (as from 2 April 2015)

escrow accounts opened for making settlements under shared construction participation agreements (as from 1 July 2018);

deposits evidenced with savings certificates;

deposits made by small businesses as defined in the Russian Law and registered in the Unified Small and Medium-sized Businesses Register (as from 1 January 2019).

The insurance shall not cover:

bank accounts (deposits) of lawyers, notaries and other persons, if such accounts (deposits) were opened for carrying out professional activity in accordance with the Federal law;

deposits evidenced with deposit certificates;

funds in trust with banks;

deposits with foreign branches of the Russian banks

e-money;

nominal accounts, except for those opened by guardians or trustees and whose beneficiaries are their wards, pledged accounts and escrow accounts (except escrow accounts opened for making settlements under real estate transactions or settlements under shared construction participation agreements);

subordinated deposits;

deposits made by or in favour of legal entities, except entities lawfully qualified as small and medium-sized businesses under the Russian Law and registered in the Unified Small and Medium-sized Businesses Register.

A depositor becomes entitled to compensation of his/ her/ its/ deposits on the date of the insured event.

The insured events are:

the bank’s banking license issued by the Bank of Russia has been withdrawn (terminated) unless Deposit Insurance Agency participation plan is implemented within the bank’s financial rehabilitation;

the Bank of Russia has imposed moratorium on the settlement of claims towards creditors.

Upon occurrence of an insured event a deposit with the Bank is to be compensated in size of 100% of the deposit amount with a bank, however, the total compensation shall not exceed RUB 1,400,000 (applicable to the insured events occurred after 29 December 2014).

If a customer has more than one deposit with the same bank, the deposit compensation shall be paid pro rata the amounts of such deposits but the total compensation for all deposits should be no more than RUB 1,400,000.

This condition is applicable to all deposits made by a depositor (in favour of a depositor) with one bank including those made for doing lawful business activities (except escrow accounts opened for making settlements under real estate transactions or settlements under shared construction participation agreements).

To get compensation for deposits a depositor (his/ her/ its representative) or heir (his/ her/ its representative) may apply to the Deposit Insurance Agency or an agent bank if such is involved in the deposit compensations payments. A depositor may exercise this right in the period from the date of the insured event occurrence to the bankruptcy proceedings completion date (forced liquidation completion date) and moratorium completion date if the Bank of Russia imposed moratorium on the settlement of claims towards creditors.

Please note that it is necessary to timely inform the Bank about any changes in the information that was provided when making the deposit agreement or account agreement, i.e.:

Individuals

Legal Entities*

Last name, name, patronymic

Registered place of residence

Address for postal notices

Identity document type and details of the individual depositor

Telephone

Name

Registered place of business

Address for postal notices

Information on representatives authorised to represent the legal entity without a power of attorney

Telephone

*Legal Entities means entities lawfully qualified as small-sized businesses (including micro-businesses) under the Russian Law and registered in the Unified Small and Medium-sized Businesses Register.

Failure to do the above may result in longer consideration of the depositor’s claim to get compensation of his/ her/ its deposits, rejection thereof if the Bank or Deposit Insurance Agency is unable to identify the depositor (his/ her/ its representative authorised to represent an entity without a power of attorney).

Please see details of the compensation procedure and amount at the Deposit Insurance Agency website: http://www.asv.org.ru/